ETH ETF Approval Shakeup?

Following unprecedented news, the odds for an $ETH ETF approval surged to ~70% after hovering below 25%. Subsequently, ETH’s market cap rose by $71B in one day - the largest daily surge ever recorded.

Here's our developing Ethereum Spot ETF Thread🧵

As @NateGeraci notes, recent shifts suggest a possible approval. However, for a launch of ETH ETFs both the 19b-4 and S-1 filings must be approved. 

x.com/NateGeraci/status/1792330334169903568

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Meaning, the SEC could accept the 19b-4 filings but delay approvals for the S-1 statements only partially green-lighting the ETFs. 

Bottom line: The final launch could be delayed. Here are the details 👇

ETH-based ETFs applications are currently under SEC review. These funds would trade on stock exchanges like traditional stocks holding digital assets to replicate their performance. 

The SEC's evaluation of applications hinges on 2 essentials ⬇️

1️ - One key component in the approval process is the 19b-4 filings. These are requests submitted by exchanges like NYSE or Nasdaq to the SEC, seeking permission to list new products, such as Ethereum ETFs on their platforms. Approval of these filings is critical for the ETFs to be listed.

2️ - S-1 registration statements are another crucial component. These documents are filed by the issuers and provide detailed information about the ETFs, including their structure, management, and investment strategy. 

www.sec.gov/Archives/edgar/data/1860788/000093041324000620/c108205_s1a.htm

Key Takeaways: 

🔹 The ETF launch may be delayed despite approval of 19b-4 filings tomorrow. 
 
🔹 Regulators are also investigating whether ETH should be classified as security after Ethereum's transition to a PoS consensus, potentially impacting the process.

🔹 An approval of Spot ETH ETFs could imply that the SEC no longer views Ethereum as securities.

The SEC recently urged exchanges interested in listing ETFs to update their 19b-4 filings ahead of an impending final deadline, suggesting they may be shifting towards approving them as we move closer to a decision point this Thursday.

The SEC recently urged exchanges interested in listing ETFs to update their 19b-4 filings ahead of an impending final deadline, suggesting they may be shifting towards approving them as we move closer to a decision point this Thursday.

https://x.com/tier10k/status/1792655223103566116

Despite the accelerated filing updates, approval is not guaranteed. 

Tomorrow possible outcomes :

1️/ 19b-4s & S-1 filings are both approved → ETH ETF launch approved
2️/ 19b-4s are denied → ETH ETF launch is not approved
3️/ 19b-4s are approved but S-1 filings are delayed → ETH ETF launch is delayed

Today's Alpha Post by @BSturisky sheds light on the status of ETH ETFs decisions and their implications. Don't miss out! 👇

Today's Alpha Post by @BSturisky sheds light on the status of ETH ETFs decisions and their implications. Don't miss out! 👇

https://delphi.link/etfeth

What do you suggest the odds are for full approval this month? 

Stay tuned for continuous updates! 🔔

Several U.S. lawmakers have requested SEC Chair Gary Gensler to greenlight spot Ethereum ETFs ⬇️

Several U.S. lawmakers have requested SEC Chair Gary Gensler to greenlight spot Ethereum ETFs ⬇️

https://x.com/DegenerateNews/status/1793620581528621420